Eddie Hearn and Jake Paul were not able to go through with their $1 million bet on Katie Taylor vs. Amanada Serrano after being told that it is illegal to place wagers on their own fights.
Hearn represents Taylor and Serrano is signed to Paul’s MVP promotional outfit. The promoters had bet one another that their own fighter would emerge triumph on Saturday night at Madison Square Garden as Taylor defended her undisputed lightweight status.
Ultimately, it was Hearn who would have won the bet as Taylor was ruled the winner by split decision, a result that Paul and others have disputed - and one that tees up a potential rematch in Ireland later this year.
Speaking on the DAZN Boxing Show on Saturday night, Hearn explained that the bet had been cancelled and a new forfeit was in play.
“Unfortunately we kind of got our collar felt a little bit in the respect of – promoters can’t bet on their own fight and that’s not a great look," Hearn said.
“So myself and Jake have been coming up with an alternative which is gonna make you laugh a lot. I’ll give you the details maybe later before the fight. It probably involves me getting knocked out, but that’s only if Katie loses. If not, it’s gonna involve Jake Paul getting knocked out.
“It’s gonna be for charity. All the details are gonna be [revealed]. We had a conversation after and got told, ‘Legally you can’t really bet on the fight as a promoter.’
“And we were like, ‘Okay.’"